Ksh 2,000,000 loan at Family Bank for 10 years.
At Family Bank's current lending rate of 16.40%, a Ksh 2,000,000 fixed-rate loan over 10 years has a monthly repayment of Ksh 34,003. Total cost: Ksh 4,080,344 (Ksh 2,080,345 interest).
Monthly repayment
Ksh 34,003
At 16.40% · 120 payments
Total repayment
Ksh 4,080,344
2.04× the borrowed amount
Total interest
Ksh 2,080,345
Ksh 143,384 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 86,333 | Ksh 321,701 | Ksh 1,913,667 |
| Year 2 | Ksh 187,939 | Ksh 628,130 | Ksh 1,812,061 |
| Year 3 | Ksh 307,520 | Ksh 916,584 | Ksh 1,692,480 |
| Year 4 | Ksh 448,255 | Ksh 1,183,883 | Ksh 1,551,745 |
| Year 5 | Ksh 613,887 | Ksh 1,426,285 | Ksh 1,386,113 |
| Year 6 | Ksh 808,821 | Ksh 1,639,386 | Ksh 1,191,179 |
| Year 7 | Ksh 1,038,240 | Ksh 1,818,001 | Ksh 961,760 |
| Year 8 | Ksh 1,308,244 | Ksh 1,956,031 | Ksh 691,756 |
| Year 9 | Ksh 1,626,014 | Ksh 2,046,296 | Ksh 373,986 |
| Year 10 | Ksh 2,000,000 | Ksh 2,080,345 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 2,000,000 loan over 10 years would run about Ksh 26,830/month — saving Ksh 860,690 in interest. See the Citibank N.A. Kenya version →